Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Research & Development costs
Eligible companies with turnover of less than 20 million dollars receive a refundable tax offset allowing the benefit to be paid as cash refund if they are in a tax loss situation. I assume we get a 25% refund as that would be the amount of tax we would pay if in profit. If that is the case then we should be able to increase our cash reserves by a reasonable amount of cash considering the amount of drilling we have undertaken
Australian Government R @ D tax incentive Scheme
Extracts from RNS a couple of years ago
The refund relates to equaling expenditure made by MGA in the fifteen months long rather than the usual 12 months ending 30/9/2019. The refund was £295,515.00. Re drilling expenses
Have the Australian Government stopped this allowance.?
metalicity has multiple outcropping in their new lithium acquisition. metalicity's diversification continues apace as it adds,a second highly prospective project in north queensland with multiple outcropping pegmatites to its port folio. more importantly for metalicitys georgetown remains sp****ly explored meaning there are plenty of opportunities for the company to really exercise its exploration muscle. we knew georgetown is completely under explored but to have a project with several strike kilometres of pegmatites and other felsic intrusive that have never been assayed for lithium and associated metals is very significant
it seems we are not the only one exploring this area as georgetown is only 30 odd kilometres from where we are exploring if my geography is correct.
I think there will be a lot more information coming out over the next couple of weeks which will explain in detail why we are entering into this new prospect taking into account the amount of drilling we are having to do at present.
Re your twitter posting.
Galena a very important mineral because it serves as an ore for most of the world's lead production and also a significant ore of silver.
Pyrite is mainly used production of sulphur dioxide for the paper industry